XPX - Charlotte - Exit Planning Exchange

XPX Knowledge Exchange post by member Michelle Fritsch, PharmD, BCGP https://lnkd.in/eyW-MR-R

The kickoff of our fall season of events this week was a resounding success. Fantastic turnout for an event that has received rave reviews.... We had two owners share their exit experiences and how they leveraged their team of advisors for a successful outcome. A very special thank you to our two panelists who shared their stories... Chip Eleazer and Mike Fitton. And to our moderator Matt Bradbury

Very pleased to welcome another fantastic new member to our community of advisors... Justin Spears, Director @ Trivest Partners. Founded in 1981, Trivest is one of the oldest private investment firms in the Southeastern U.S. For more than 40 years, Trivest has invested exclusively in founder-led and family-owned businesses in the lower middle market. Their entire business model is built around providing ownership transitions specifically designed to fit the needs of founders, entrepreneurs, and family businesses; and Trivest works hard to ensure their ideals and philosophies are not compromised. Please join us in welcoming Justin to XPX Charlotte.

Thank you XPX Charlotte member Michael Stier, CEPA?, from FocusCFO?, for sharing their article published by the Exit Planning Institute.

Welcoming another fantastic new member to our Charlotte XPX chapter... Craig Selimotic Danforth. Craig is Vice President - North Carolina Market for Bernstein Private Wealth Management. Craig specializes in working across generations to address emotional aspects regarding financial decision-making. Often clients are at a crossroad and it’s his role to help them navigate the best path forward. Some are business owners who closely identify with companies they have built and are now interested in exploring options for future stewardship. Others are well-respected civic leaders who feel an obligation to enhance their communities through philanthropic giving. Welcome to our XPX community, Craig!

Meet a new member to XPX Charlotte, Shane Brotherton, Senior Vice President - Corporate Banking, with Pinnacle Financial Partners. Shane is a passionate banking advisor partnering with metro Charlotte CEOs and their staffs to make their lives easier. He advises on long term strategic goals to increase the businesses value in the eyes of a potential buyer. Shane seeks to connect clients with members of his network who can help make it an optimal exit for their life’s work. We’re happy to have Shane as a member of XPX Charlotte’s dynamic community of professionals!

You have been working on the transaction for months. The business has gotten healthy with great valuation increase. Now is the time to get it across the finish line. Then... the owner... ? Struggles with the emotions of relinquishing the business ? Gets overwhelmed with the procss and gets cold feet ? Develops health issues, changing the parameters of the deal ? Has a family emergency or health crises, taking them out of the deal process ? Backs out due to fear of staying relevant without the business. In the past, most of the emphasis has been on the financial side of the transaction. When you have an expert on your team focused on the Wellness Portfolio, alongside the other deal aspects, these deal delays or killers can be prevented. Thank you XPX Charlotte member Michelle Fritsch, PharmD, BCGP for this insightful post. https://lnkd.in/eyW-MR-R

Meet one of XPX Charlotte’s new members, Bishop Beall, CSL - PE and SMB Growth Advisor, providing Fractional Chief Revenue Officer services through Sales Xceleration? | Five Stones Advisors LLC. Bishop is also a Regional Connector with Trustegrity?. Bishop partners with small to mid-sized companies that are experiencing challenges related to sales and help them succeed by building and leading sales teams that are accountable for driving predictable, profitable, and sustainable revenue growth. We’re happy to have Bishop as a member of XPX Charlotte’s dynamic community of professionals!

According to the 2023 National State of Owner Readiness Survey conducted by the Exit Planning Institute, 69% of business owners identified exit strategy on their priority list. This number was only 6% in 2013! The more business owners become aware of and educated about exit planning, the more exit planning professionals like members of XPX Charlotte can collaborate and help them create a plan. Let’s educate our community together!

Meet one of XPX Charlotte’s new members, Ashley Love, founder of FullFraction Finance & Accounting. Ashley comes to XPX with a master's degree in Accounting from Florida Atlantic University and a background in mergers and acquisitions (buy-side) and finance. With ten years of experience in finance and accounting, she’s no stranger to staying up to date on the evolving landscape of exit planning. We’re happy to have her as a member of XPX Charlotte’s dynamic group of professionals! ********************** Thank you to our sponsors: J.P. Morgan Private Bank, Ascension Law, UBS, South Park Advisors, LLC, VR Business Brokers Charlotte, NC, Business Acquisition & Merger Associates, Whitewater Consulting LLC, and FocusCFO?